Universal Technical Institute (UTI) is a provider of postsecondary education for students seeking ca...
Big Money Week is in the Stars
08/02/2019 9:14 am EST
Three planets—the Sun, Venus and Jupiter—are connected in a positive way next week supporting big money moves, reports Susan Gidel.
Three of the best planets to have on your side for anything are the Sun, Venus and Jupiter, and they are connected in easy, positive ways on Wednesday, Aug. 7 and Thursday, Aug. 8.
The Sun and Jupiter are 120 degrees apart on Wednesday, exact at 3:31 am EDT, in an aspect that supports general happiness, joy and appreciation. The next day, money planet Venus is in the same aspect to Jupiter, exact at 4:28 pm. This is an even louder transit that shouts “big money.”
Of note is that Monday, Aug. 5 is one of 10 “Gann Days” on which the legendary trader W.D. Gann looked for a potential change of trend. This one marks the midpoint between summer and fall.
Monday, August 5
- High in Gold: Look for an exceptionally emotion-filled trading session as the gold futures first-trade Mars (action) and Moon (emotions) are activated by transiting Jupiter, which exaggerates everything it touches, as well as the Sun (ruler of gold) and Venus (money). Friday’s big rally found support in the nearby August contract (for weekly chart plotting purposes) at the important $1,401 per oz. level ($1,412 in the most-active December contract) and cleared resistance at the all-important end-of-cycle $1,423. The next planetary price resistance level is $1,508.
- High in S&P 500: The stock market could rebound a tad as the Sun and Venus are in a supportive position to the S&P 500’s natal Saturn. However, the rally could be limited as the transiting Moon is opposite the index natal Moon, a culmination. Look for resistance at the planetary price conversion level of 3003-3010. Support is between 2931 and 2944, then 2896 and 2863.
- Low in 10-year Treasury note—The transiting Moon is conjunct both Saturn and Pluto in the first-trade horoscope of 10-yr. T-note futures. This fleeting aspect brushes two planets in the first-trade chart that can be prominent at market lows (although also seen at market highs). What tips the balance to a potential low is that the transiting Sun and Venus are in a tension-filled square to the market’s natal Sun. Any setback could find support at the planetary price conversion level of 128-05, then 127-07.
Tuesday, August 6
- High in Crude Oil: The transiting Sun and Venus in early Leo form a Grand Trine with four planets in the crude oil futures first-trade horoscope—the Sun/Mercury conjunction in Aries and the Jupiter/Uranus conjunction in Sagittarius. All in fire signs, the ease of a Grand Trine could expend energy to push prices up, but then fade quickly. Look for planetary price conversion resistance in the nearby September at $56.80 per barrel.
Last Week’s Scorecard (through Thursday’s close)
- Low in S&P 500 on Wednesday, July 31: Don’t blame the Fed, the New Moon in Leo and Venus connecting to the position of Uranus in the launch-day horoscope of the S&P 500, with transiting Mars trine the market’s natal Moon marked the spot. Following disappointment in the outlook for further Fed rate cuts, the S&P 500 fell to the day’s low of 2958 in a 60-point range, above planetary price conversion support at 2944.
The position of planets in the sky as they relate to their positions when a market first began trading can provide clues to potential trend changes. The energy is strongest on the days noted in this post, but it is not unusual for the effect to be seen a day or two either side. See backgrounder “Market Analysis with Astrology” for further information.
Susan Gidel is editor of the Red Letter Trading Days newsletter.
Related Articles on MARKETS
Goldman Sachs Group (GS), with a yield of 2.1%, has joined our Growth & Income Portfolio with a ...
Apple and Walmart sales guidance disappoint after market makes high on light session, reports Bill B...
To select positions for the portfolio at his Validea newsletter, John Reese assesses stocks based on...